Radian Group Inc. (RDN) Short Interest Update
Radian Group Inc. (NYSE:RDN) saw a significant decrease in short interest in September. As of September 15th, there was short interest totalling 7,707,687 shares, a decrease of 18.6% from the August 31st total of 9,463,109 shares. Based on an average daily trading volume, of 2,323,205 shares, the short-interest ratio is currently 3.3 days. Approximately 3.6% of the company’s shares are sold short.
In related news, EVP Derek Brummer purchased 16,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The stock was bought at an average cost of $12.87 per share, with a total value of $205,920.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.83% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in RDN. State Street Corp boosted its stake in Radian Group by 11.6% in the first quarter. State Street Corp now owns 6,701,250 shares of the company’s stock valued at $83,095,000 after buying an additional 699,185 shares during the period. BNP Paribas Arbitrage SA boosted its stake in Radian Group by 13.2% in the second quarter. BNP Paribas Arbitrage SA now owns 153,714 shares of the company’s stock valued at $1,602,000 after buying an additional 17,935 shares during the period. California State Teachers Retirement System boosted its stake in Radian Group by 17.5% in the second quarter. California State Teachers Retirement System now owns 452,298 shares of the company’s stock valued at $4,713,000 after buying an additional 67,238 shares during the period. UBS Group AG boosted its stake in Radian Group by 6.1% in the first quarter. UBS Group AG now owns 200,513 shares of the company’s stock valued at $2,486,000 after buying an additional 11,465 shares during the period. Finally, Teachers Advisors Inc. boosted its stake in Radian Group by 193.9% in the first quarter. Teachers Advisors Inc. now owns 1,426,969 shares of the company’s stock valued at $17,694,000 after buying an additional 941,411 shares during the period. 93.38% of the stock is owned by institutional investors.
Shares of Radian Group (NYSE:RDN) opened at 13.46 on Thursday. The company has a market cap of $2.89 billion, a P/E ratio of 10.09 and a beta of 2.01. Radian Group has a 12 month low of $9.29 and a 12 month high of $17.00. The company’s 50 day moving average is $13.63 and its 200 day moving average is $12.34.
Radian Group (NYSE:RDN) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.38 EPS for the quarter, hitting analysts’ consensus estimates of $0.38. Radian Group had a net margin of 25.42% and a return on equity of 12.64%. The firm earned $330.20 million during the quarter, compared to analysts’ expectations of $224.68 million. During the same period in the previous year, the company earned $0.40 EPS. On average, equities research analysts predict that Radian Group will post $1.55 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 7th. Shareholders of record on Monday, August 22nd were given a $0.0025 dividend. The ex-dividend date was Thursday, August 18th. This represents a $0.01 annualized dividend and a yield of 0.07%. Radian Group’s dividend payout ratio (DPR) is 0.75%.
A number of equities analysts recently issued reports on the stock. Zacks Investment Research raised shares of Radian Group from a “sell” rating to a “hold” rating in a research note on Wednesday, August 31st. FBR & Co reissued an “outperform” rating on shares of Radian Group in a research note on Friday, September 23rd. BTIG Research set a $22.00 price target on shares of Radian Group and gave the stock a “buy” rating in a research note on Thursday, September 15th. Finally, TheStreet raised shares of Radian Group from a “hold” rating to a “buy” rating in a research note on Thursday, August 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $17.00.
About Radian Group
Radian Group Inc is a holding company that provides mortgage insurance, and products and services to the real estate and mortgage finance industries. The Company operates in two segments: Mortgage Insurance and Services. The Mortgage Insurance segment provides credit-related insurance coverage, principally through private mortgage insurance to mortgage lending institutions.
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